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‘Tweets’ from Elon Musk are displeasing the SEC and Musk gets notified

Tesla CEO, Elon Musk, had problems in 2018 with the US market regulator – the US Securities and Exchange Commission (or SEC) – due to ‘tweets’ that shook the value of company shares.

'Tweets' from Elon Musk are displeasing the SEC and Musk gets notified

‘Tweets’ from Elon Musk are displeasing the SEC and Musk gets notified

At the time, Musk accepted a court settlement to have his public statements on social media overseen by Tesla’s lawyers, but according to The Wall Street Journal, the US regulator is not satisfied with how the situation has been handled.

Read more:

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  • Norwegian court accused Tesla of reducing battery capacity of some Model S
  • The publication says that the US regulator got in touch with Tesla about two tweets that were considered “mistakes” under the 2019 agreement. While one of the tweets was about the production levels of solar panels, the other again referred to the value of Tesla’s shares. In both cases, the regulator found the tweets to be Musk’s “personal opinion” only and not pre-approved by the company’s lawyers.

    Even so, the US Securities and Exchange Commission has not announced any action against Tesla, so this communication must have been a warning.

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